As the European Sustainable Finance Summit gets underway, German Finance Minister Olaf Scholz and Environment Minister Svenja Schulze are calling on European companies to invest more in sustainable economic activities. The first survey, published today, on applying the EU taxonomy shows that just 2% of companies’ activities by revenue meet the taxonomy’s level of ambition for climate action and sustainability. With the recent introduction of Green German Federal Securities, the government has shown that an ambitious approach can also lead to success.
The Federal Republic of Germany is publishing its first framework for Green German Federal Securities today. The aim of these securities is to make Germany’s “green” budget spending transparent while also strengthening the country’s position in the area of sustainable finance. As a benchmark issuer for the euro area, the German federal government will offer different maturities, establish a green yield curve, and thus create added value for the sustainable finance market in Europe.
In different European newspapers – Le Figaro, La Repubblica, El Pais, Ta Nea, Expresso, Gazeta Wyborcza, Le Soir and Die Welt – Federal Minister of Finance Olaf Scholz outlined the main challenges and most important tasks of Germany’s Presidency of the Council of the European Union.